IHC expands digital portfolio with majority stake in Emircom

IHC expands digital portfolio with majority stake in Emircom

UAE - International Holding Company (IHC), the diversified Abu Dhabi-based conglomerate, has announced the completion of a 54% stake acquisition in Emircom, the Middle East’s leading information and communications technology (ICT) provider, through its subsidiary, IHC Digital.

For nearly four decades, Emircom has been the ICT partner of choice for many of the most challenging projects in the Middle East, servicing a wide customer base such as service providers, governments, educational institutes, finance houses, and health care organisations.

This AED 250 million ($68.06 million) transaction comes as part of the IHC’s group-wide strategy to grow its digital assets portfolio and to expand into new growth areas, said a statement.

Syed Basar Shueb, IHC’s Chief Executive Officer, said: “We shall continue to seek further acquisitions in different industries, including the ICT area, building on our well-established track record of acquiring high-value and profitable investments that benefit our shareholders in the short- and long-term. This acquisition of a majority stake in Emircom will help IHC Digital to continue deepening its profitability and depth in the sector."

Established in 1984, Emircom has strategic partnerships with many prominent players in the ICT segment, including Cisco and Oracle as a Gold Certified Partner, Dell as a Titanium Partner, as